And I generally require a sponsor that has full real estate cycle experience with little to no money lost, low leverage, high skin in the game and reasonable fees and promotes.However, other investors will look at these deals as bad/too boring for them because they are more aggressive and not concerned about the risks of default, refinance, interest rates changing etc.

It depends on the lender but at a min they must follow TX SML or lending laws in the state in order to compliantly lend in TX, on whether choose to apply this guideline to all types of occupancies or transaction types (non owner investment, second homes/primary residences, etc)80-85LTV on rental properties is only on the purchase for fannie/freddie loans but on rate term refinances its max 80% and cash out max 75% for 1 unit and up to 70% for 2-4 unit cash out conventional.On HELOC's and rentals are up to 70-75% depending on the HELOC investor or product.Its good to distinguish between what the lenders are willing to do and for which product and also these loan products must abide my state law as well as an additiona layer of "overlays," on top as well (whichever is worst / most conservative).

On refinances, I use Community Bank because they do 90% LTV, but if we can get 10% down on the buy side too that would be great

Understanding your “why” can help refine your strategy.I’d also encourage you to keep an open mind toward single-family properties.

A cash out refinance is maxed out at 80% LTV so 5% of $1.3M is $65K minus closing costs.You would need to show income and have a W2 job to refinance but you might be able to take out a HELOC to pay off your Ex-Husband.

They can also be a good exit strategy for an investor who used a hard money loan and would like to refinance to pull cash out for their next investment property deal.

Ideally completing light renovations like this shouldn't take long and you should  have a low holding cost on the hard money loan (if you used debt) and make a higher profit on the sale or have more flexibility on the payoff when you refinance  Plan on long-term and hold.

When you say you can refinance your VA, have you checked at your total allotment for VA loans.

If the economy gets better, you might be able to refinance and/or if you make more money, pay down the principal later if that is what you really want.

If I refinance in the future, will I need to modify my ownership structure?